HD Hyundai Infracore Secures Significant Excavator Order in Ethiopia

HD Hyundai Infracore has received an order for 100 excavators in Ethiopia, aiming to expand its market across Africa. This aligns with the country’s growth in mining and large infrastructure projects. The company previously held a 57% market share of excavators in Ethiopia and plans to further increase its presence in neighboring countries.

HD Hyundai Infracore has successfully secured an important order for 100 large excavators in Ethiopia, marking a significant advancement in its strategy to expand throughout Africa. This contract, which was announced on March 25, entails the provision of 36-ton crawler-type excavators to two mining development companies, with all deliveries expected to conclude by June of this year.

This development aligns with Ethiopia’s intensified efforts to strengthen its mining sector by capitalizing on its abundant resources such as cobalt and lithium. Notably, significant infrastructure projects, including the construction of Africa’s largest airport near Addis Ababa, are increasing the demand for construction machinery, particularly the excavators supplied by HD Hyundai Infracore.

Previously, in the last year, HD Hyundai Infracore sold 212 units of the same excavator model in Ethiopia, securing a dominant 57% market share and establishing itself as the leading supplier in the region. This success is indicative of a broader trend in Africa, where excavator and medium-to-large wheel loader sales surged by 34.8%, from 13,500 units to 18,200 units.

A company representative highlighted Ethiopia’s vital role in its operations, saying, “Ethiopia is a key market, accounting for more than one-third of sales in the African market.” Furthermore, the company intends to capitalize on its strong presence in Ethiopia to expand its reach into neighboring nations, thereby enhancing its brand across Africa. “Based on this,” he added, “we will expand our market to neighboring countries and strengthen our brand influence across Africa.”

In addition to its Ethiopian focus, HD Hyundai Infracore’s expansion strategy includes extending its sales efforts from the Middle East into the broader African market. This initiative addresses the increasing demand for construction machinery, driven largely by infrastructure and social overhead capital projects across the continent.

In summary, HD Hyundai Infracore’s recent order of 100 excavators in Ethiopia is a pivotal move that highlights the growth of the mining sector and infrastructure projects in the region. With a substantial market share and ambitious expansion plans, the company is poised to strengthen its influence in Africa. As Ethiopia continues to develop its mineral industry and infrastructure, HD Hyundai Infracore’s strategic initiatives will be integral to its success in the continent’s growing market for construction machinery.

Original Source: www.businesskorea.co.kr